Opinion: Obama’s Rolling Student Loan Bailout

This transcript has been automatically generated and may not be 100% accurate.

... I ... the Financial Protection Bureau is theoretically supposed to help ... well protects consumers' so ... we'll hear an internal were a little surprise me took a look at that ... new report the CIA there on your screen it's a study on the trillion dollar ... student loan market ... and the ... sea as some kind of while that's a perverse conclusions ... I'd to their analysis of this data ... luckily we have assisted OpinionJournal dot com editor Elisa Finlay here to explain we checked ... out welcome but that could summon the numbers up on the screen first to get a sense of how big this problem is that the school borrowers ... sixty percent and in repayment ... seventy percent of all twenty three percent in deferment ... or forbearance I ... knew that these numbers in context that ... this is good bad ugly ... that means only sixty percent says students who outclassed ers have left school grads are actually re painted address is ... better in the fall there are a a a and just isn't beaming paid for one reason or another there are financially gotten into permit for financial hardship reasons ... for their long contracts on our accumulating more and that is they can find it shot on a and so this is this is not a good situation so trillion dollars in debt ... and that Europe is a study says and what are they on ... while ... the five gracefully that have switched in bed and I able to buy how is it that I'm suffering ... so basically the White House has proposed a plan to pay as you earn ... an income based repayment plan ... that would allow graduates so I this is kind of more an in kind with a mortgage modification to hang out with kept their payments based on their income at about ... ten percent ... of their discretionary income ... oh and after twenty years in all the forget it ... to every O way it's it's an impasse and basically the rack up a hundred thousand dollars in that ... field goal and into a lucrative Korea fueling the thirty one and ... twenty thousand dollars a year while the e-mail only ended repaid twenty thousand dollars The sounds like a great deal of but there's no free lunch here I'm ... really true who pays for this ... they've essentially debt forgiveness it can do that often lead taxpayers has been great ok what what what kind of behavior today though when they use to incentive eyes for students to finance its incentive eyes and students around the bend because there would be there ... their payments will be kept still want to go on getting a fancy education go to law school though today's ... know IDC's corporate longs to wind ... and it will matter has will forgive your loans after twenty years this is the Consumer Financial Protection Bureau understand the argument he just laid out a seventy seven ... the report is any of that in the ... I in being present we understand that a war wrote ... that she liked in curds and thusly me as ... it can have as much a dead end up being weighed down by these monthly payments will they can go out and spend the money in honor of ... the AHL cars housing which would ... hopefully boost the economy so it's another form of teens and Stan essentially dead and not in those exact words my CC you have ... a government agency that is not bound by ... the Congressional check spending taxpayer money encouraging students ... to take out for a taxpayer backed ... student loans ...